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ISLAMABAD: Senior Vice-President of Pakistan Muslim League-Nawaz (PML-N) Shahid Khaqan Abbasi has said that the government is all set to deregulate the prices of petroleum products.
He was speaking at a ceremony of Pakistan Petroleum Dealers Association (PPDA) which was held in the federal capital under PPDA chairman Abdul Sami Khan.
He said that because the government has no involvement in determining oil prices, he is opposed to the system used to determine petroleum prices.
He argued that gas station owners should make a fair profit from their ventures. He regretted, however, that some sellers may have been involved in oil adulteration and improper measurement.
According to Abbasi, dealers would refrain from engaging in any unlawful activity if they received their justifiable profit.
The government has finally approved fair commission for the dealers, and it is hoped that they would profit fairly from their enterprises, he added.
He further said that investors had expressed interest in upgrading current refineries, establishing new refineries, and building new oil pipelines to ensure a steady supply of gasoline throughout the nation. The country would benefit from the new pipeline by sparing customers from paying dealers’ margins of Rs4.70 per liter.
Further, he claimed that the policy of using CNG in transportation was incorrect given the annual depletion of domestic gas reserves.
Petroleum dealers have rejected the proposed deregulation of prices of petroleum products and said that the Oil and Gas Regulatory Authority (OGRA) has so far not consulted them in this regard.
